Axon Enterprise: FTC Dismisses Antitrust Complaint Regarding Vievu Acquisition

(RTTNews) - Axon Enterprise Inc. (AXON) announced Monday that the Federal Trade Commission or FTC has dismissed its administrative enforcement action against the public safety technology company regarding its 2018 acquisition of body camera competitor Vievu.

The company said it intends to file a stipulation to dismiss federal claims on Tuesday, ending 5-year battle to protect its intellectual property.

The FTC action follows Axon's U.S. Supreme Court victory in April confirming federal court jurisdiction over its constitutional challenges to the FTC's structure, claims the high Court recognized as "existential."

Axon Founder and CEO Rick Smith said, "As I said from the beginning, no one should ever face the prospect of a government that can demand to seize your most precious assets without the ability to defend yourself in a fair and impartial court of law. We made it clear that we were prepared to take the merits of our constitutional claims right back to the Supreme Court..."

In pre-market activity on Nasdaq, Axon Enterprise shares were trading at $202, up 1.15 percent.